Option #1 - Wells Fargo Bank requirements for submitting offers

Dear Fellow Agent,

Please follow the guidelines and suggestions to help streamline the process of submitting offers on REO properties. These guidelines are intended to facilitate the processing and uploading of contracts. Please ensure that your offer is complete before faxing it to our office.

When submitting an offer, please check off each item below to ensure the offer meets the basic requirements of submission to the seller. Missing any one of the items could possibly delay your offer’s submission and/or prevent your buyer’s offer from getting processed in a timely manner.


____ The name(s) on the offer match the name(s) on the lender’s pre-approval letter.

____ The amount financed on page 1 matches the amount on the lender letter.

____ The loan TYPE (Conv, FHA, VA, etc) is indicated on page 1 of purchase contract AND lender letter

____ Paragraph’s 2.A, 2.C, 2.D & 2.E of the purchase contract add up to paragraph 2.F
    (many offers don’t add up)

____ The offer is signed and dated by buyers AND selling agent.
    Electronic Signatures are not permitted.

____ Email offers to offers@frankvalente.com.
    Cover Sheet should include agent’s full name, email & phone number (printed)

____ Complete and send with offer, any documents attached in MLS requested for property.

____ Consider a 5-7 day inspection period in paragraph 14.B.1
    (most sellers prefer short inspection periods)

The ONLY items that should be included with the offer are (and in this specific order)

___ Email
    (must have agent’s name, email address, cell number)

___ Purchase Contract
    (including Buyer Inspection Advisory, Agency between Agent & buyer)
    ELECTRONIC SIGNATURES NOT ACCEPTED.

___ Pre-approval letter from specified lender below, copy of credit report, proof of down payment, and copy of deposit check.
                                                 
Sean Gebauer - Wells Fargo (916) 787-3656
APPLY ONLINE: https://www.wfhm.com/sean-gebauer

___ Proof of funds for CASH offers and all down payments
    (proof of funds must be current, bank stmt, credit union stmts etc, no letters)

___ Copy of deposit check
    (that matches the deposit amount on paragraph 2.A of the offer)

___ Agency disclosures – page 1 and page 2
    (buyer signed and one for seller to sign)

___ This page
    (completely checked off and signed by buyer’s agent)


Other tips for ensuring your buyer’s offer gets processed promptly:

   1. If you are NOT using WinForms, please PRINT legibly: make it EASY for everyone to read.

   2. Please EMAIL all offers to offers@frankvalente.com.

   3. The seller will only accept COMPLETE offer packages. If, for some reason, your offer is incomplete or incorrect, it may be rejected. However, we will attempt to notify you via email. Once you correct the issue(s), please resubmit the offer package “in its entirety”. It’s difficult for us to “piece” offer packages
together due to the volume we receive.

   4. Once we receive your offer, we will notify you of receipt via email. If you do not hear from us within 48 hours of submitting your offer, then we may not have received it.

   5. Since many REO listings receive multiple offers, the first offer you submit may be your only chance. Please submit your “Highest and Best” offer. Once we get an acceptance on an offer, whether it was yours or not, we will notify you via email.

   6. Once an offer is accepted, most of our communication will be via e-mail; please monitor your e-mail often. If you have a YAHOO e-mail address, our e-mails may be blocked or end up in your SPAM / JUNK folder so please monitor both folder’s carefully.

   7. The property has been visually inspected by the agent and his/her buyers.

   8. This property is being sold in its present condition..."AS-IS"

   9. Is this offer one of multiples that are being submitted to sellers?
    ____yes  ____no


______________________________________
Buyers Signature


______________________________________
Buyers Signature


__________________________________
Selling Agent's Signature


___________________________________
Selling Agent’s E-mail (please print)